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Discussion Starter · #61 ·
Op excellent your mortgage is locked in at a good rate. You should approach funding your retirement as paying yourself first.
Why a loaded truck?
These trucks make sense as a low price option, or did until recently.
Not for a premium. And this is a horrible time to buy.
Even buying a used 2018 Pro 4 X and saving the difference in your 401k would help.
Dont mean to preach, and appreciate you don’t seem to be taking it the wrong way.
You should check out Dave Ramsey
I completely understand where everyone is coming from and I can agree with a lot or all of it. I will be honest I just want something nicer and truck-ish.
I know this might not be the best outcome but i almost talked myself out of my new house as well since the pricing on homes is going up and up and up.

On a side note i got them to offer more on the trade and now the OTD price is 47.1k

Far as the 83 months only time will tell if this is a terrible idea or not. At the moment i am getting a new truck and only increasing my insurance by 18 bucks and car payment by 35~

I honestly do appreciate being able to talk this out with everyone here and since i will be new owner maybe this can be my go to for all things Frontier… Heck maybe maybe i will fall in love with it so much tacos will look sad by comparison. :)
 

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Try vroom on your trade. There the new kid in the game. They seem to be paying the most according to another site i visit. Its all online so it takes 5 minutes to get a price.

I'll digress and say this whole car buying / pricing euphoria seems a lot like buying a house in 2006. I hope it doesn't end the same way.
 

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Bought house a few months ago @ 2.25% fixed 30 year.
No 401K probably should look into that. 40 years old.
Work from home and dont need a decked out truck but wanted it.
83 months is due to wanting to keep payments around what i currently pay.

Starting to think i shouldn’t buy but also seeing a lot of info that market will not stabilize for 18-24 months and could get even worse.

I’m sure the new hotness has my attention.
You just answered the very same question you came here to ask.
 

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Newguy2022,

I agree with many of the other member here when they say this is not a smart financial decision. You need to stop letting that inner child of yours make such big life decisions like this.

It sounds like you current Jeep may be in good working order to keep you on the road for many more years. A 2018 Jeep with 62,000 miles is more than average, but it still has a lot of life in it. You can easily drive it for many more years and past this crazy vehicle market we are living in.

The deal you are being offered is decent, not great. They are selling you the truck for MSRP, better than some dealers in the past few months who have charged over MSRP. You are essentially putting negative equity down when you factor in TTL and your trade in is a wash. You'll probably be upside down for around $10K the second you drive it off the lot.

I have a feeling you are going to move forward with this deal regardless of all of the advice you are being given here. I hope you pull out of this deal, but wish you the best of luck if you don't.
 

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Newguy2022,

I agree with many of the other member here when they say this is not a smart financial decision. You need to stop letting that inner child of yours make such big life decisions like this.

It sounds like you current Jeep may be in good working order to keep you on the road for many more years. A 2018 Jeep with 62,000 miles is more than average, but it still has a lot of life in it. You can easily drive it for many more years and past this crazy vehicle market we are living in.

The deal you are being offered is decent, not great. They are selling you the truck for MSRP, better than some dealers in the past few months who have charged over MSRP. You are essentially putting negative equity down when you factor in TTL and your trade in is a wash. You'll probably be upside down for around $10K the second you drive it off the lot.

I have a feeling you are going to move forward with this deal regardless of all of the advice you are being given here. I hope you pull out of this deal, but wish you the best of luck if you don't.
Sadly, these panic purchases are becoming a real pandemic..
 

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Discussion Starter · #68 ·
Yep, I’m waiting for the correction to hit


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what all i read and heard this might take years to happen, least 12-18 months but already heard that like apple getting people to justify more expensive phones this might just be a new normal.. as of now i am about to head out and pick up the truck. Can only ask that God watches over me and my foolish desires. I am still grateful the community has been nice to me about it all lol. Thanks :)
 

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what all i read and heard this might take years to happen, least 12-18 months but already heard that like apple getting people to justify more expensive phones this might just be a new normal.. as of now i am about to head out and pick up the truck. Can only ask that God watches over me and my foolish desires. I am still grateful the community has been nice to me about it all lol. Thanks :)
“insert Jesus facepalm meme”
 

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Me thinks you are thinking with the wrong head.

You drive "a lot", you said. So halfway through your 7 year loan, your truck will have a lot of miles. But you'll still owe half of the money.

If it were me, I'd table this idea for a while. Impulse buying is the best way to have buyer's remorse.
 

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It will be fine. He will take the tax return by way of extra taxes paid and buy some accessories and make a lump payment toward principal. Inner child for the win!

Real truth is he will do what he wants but much appreciates the input. That is a win for the forum either way and nothing got nasty.
 

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what all i read and heard this might take years to happen, least 12-18 months but already heard that like apple getting people to justify more expensive phones this might just be a new normal.. as of now i am about to head out and pick up the truck. Can only ask that God watches over me and my foolish desires. I am still grateful the community has been nice to me about it all lol. Thanks :)
I have friends who do repo work, the trickle has already started


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I have friends who do repo work, the trickle has already started


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When I bought my truck the finance guy said believe it or not most repossessions occur in the second year.
I hope nobody here is ever in a bad way and happens to them.

Clint
 
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When I bought my truck the finance guy said believe it or not most repossessions occur in the second year.
I hope nobody here is ever in a bad way and happens to them.

Clint
I agree with a lot of what you had said in posts. My theory is, "You can always change the interest rate, but you cannot change the principle." Dealers don't like me as I don't care what the payment or interest is. What is my OTD.
I had a friend who balked at 27k @14%. They came back at 31k @9% and she took the deal. I just shook my head as I can get a chase loan at 3% so give me 24k @ 21%.

Same with housing. I'm waiting for a house currently at 500k to drop to about 250k once the market crashes. Sure I will pay 10% on a loan but in 10 years interest will be back down to 3% again and I can refinance. This is what happened in late 2000's.
 

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I agree with a lot of what you had said in posts. My theory is, "You can always change the interest rate, but you cannot change the principle." Dealers don't like me as I don't care what the payment or interest is. What is my OTD.
I had a friend who balked at 27k @14%. They came back at 31k @9% and she took the deal. I just shook my head as I can get a chase loan at 3% so give me 24k @ 21%.

Same with housing. I'm waiting for a house currently at 500k to drop to about 250k once the market crashes. Sure I will pay 10% on a loan but in 10 years interest will be back down to 3% again and I can refinance. This is what happened in late 2000's.
To be offered an auto loan at 14% or 9% means her credit rating is bad. I would guess 600-650 FICO. Your FICO score is probably better. A repo would wreck a FICO score for years. Young people who need to borrow to finance cars need to be careful as one mis-step can lead to years of high interest cost.
 

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Discussion Starter · #77 ·
It will be fine. He will take the tax return by way of extra taxes paid and buy some accessories and make a lump payment toward principal. Inner child for the win!

Real truth is he will do what he wants but much appreciates the input. That is a win for the forum either way and nothing got nasty.
I ended up not getting it. In part from all the advice from you fine folks :)
 

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The total you see at the bottom of the invoice is the same as mine was, $45,965 if you are trading you would only be paying tax on the differential. My trade was a 2020 P4X, out the door, I was around $46,500. Unless you have nothing of value to trade, and the tax in your area is extremely high, I am not sure where the extra is coming from if it isn't addtional mark up.
You can build the vehicle you want at the Nissan site, and it will give you a list of dealers with-in the area you want to travel, and you can work out a deal with a phone call. That is what I did, and I saved the $2k dealer mark-up they were trying to get locally.
 

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The total you see at the bottom of the invoice is the same as mine was, $45,965 if you are trading you would only be paying tax on the differential. My trade was a 2020 P4X, out the door, I was around $46,500. Unless you have nothing of value to trade, and the tax in your area is extremely high, I am not sure where the extra is coming from if it isn't addtional mark up.
You can build the vehicle you want at the Nissan site, and it will give you a list of dealers with-in the area you want to travel, and you can work out a deal with a phone call. That is what I did, and I saved the $2k dealer mark-up they were trying to get locally.
I found the best way to locate trucks is to use autotrader. A few days back opened up the filter to list all trucks nationally. Then I filtered prices high to low. So most hits were loaded P4X's and there were literally hundreds of hits. I only went a few pages in but found a few selling at MSRP. The last one I saw was in Casper Wy which is 500 miles away and was a P4X that had the prem pack with an internet price of 1K BELOW msrp at just over 43K. I've shipped cars before and it cost about a dollar/mile to do that. I generally ship them to avoid paying taxes in another state because they normally are higher then mine. Can't really do this with used cars but with new, its easy peasy. All one has to do is do these national searches and you will see the pricing is based on region. My thought is places like Casper WY you got folks saying "like hell I'm going to pay 50 grand for a mid size that can't hardly do anything, For that kind of doe I'd get a real man's truck" lol. Last time I did this was for a X3 BMW and the driver called me near my chevy dealer a few miles away. I drove over there, inspected the car and signed his invoice and drove back home. I never met a sales person throughtout the transaction. The most painless purchase I've ever done. And I'd do it again rather then having some shister sales person rip me a new one.
 
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